Federal Reserve Board approves discount rate action by the Boards of Directors of New York, Philadelphia, and Kansas City

The following press release was published by the Board of Governors of the Federal Reserve System on Nov. 3. It is reproduced in full below.

The Federal Reserve Board announced on Thursday that it approved action on by the Boards of Directors of the Federal Reserve Banks of New York, Philadelphia, and Kansas City increasing the discount rate, specifically the primary credit rate, at the Banks from 3-1/4 percent to 4 percent, effective November 3.

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Source: Board of Governors of the Federal Reserve System